Costs and procedures go to the red book are updated in 2018

Procedures for issuing the red book (for transfer, inheritance, donation) shall be applied to both residential land and condominiums as follows:

Step 1: Notarization of contract

Accordingly, when the need to carry out procedures to change the name of the red book to the notary (or Commune People’s Committee) to make a transfer, inheritance or donation. Within a period of 10 days from the date of signing the transfer contract, the parties must declare the registration fee and personal income tax, if past this time limit will be fined according to state regulations.

Step 2: Proceed to declare financial obligations

The declaration of financial obligations when carrying out procedures to change the name of the red book will be made at the People’s Committee of the district where the house. A dossier for carrying out the procedures for issuing the red book shall include:

• Declaration of registration fee (02 copies signed by the buyer).
• Declaration of personal income tax (02 copies signed by the seller).
• Notarized contract (01 original).
• Certificate of land use rights (red book), ownership of houses and assets attached to land (including 01 copy certified by the competent authority).
• ID card + Household registration book of both buyer and seller (01 copy certified by competent authorities).
• In case of donation, inheritance, there must be papers proving the personal relationship between the donor and the recipient so as to be exempt from personal income tax.
• Costs and procedures go to the red book update 2018

The declaration of financial obligations when carrying out the procedures to transfer the name of the red book will be done at the People’s Committee of the district where the house and land are.

The time limit for payment of financial obligations is 10 days after the notice is issued, taxpayers shall remit into the state budget and pay registration fee. The following fees are payable:

Personal income tax: 2% of the transfer of real estate. The legal basis is Article 29. Tax on incomes from real estate transfer of the Law on personal income tax:

“Tax on incomes from transfer of real estate in Vietnam by non-residents is determined by real estate transfer price multiplied by the tax rate of 2%.”

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Registration fee is 0.5% of land use right value, specifically fee payable = (land area) x (land price) x 0.5%.

(Registration fee is a fee that the owner of the fixed asset (from purchase, transfer, inheritance …) must declare and submit to the tax office before putting the fixed asset into use. The registration fee will be exempted for those who are donated, inherited … land if the documents prove in accordance with the law.

Note: Registration fee for housing and land: The transferee will submit all documents and documents that have been taken in accordance with the above steps at the land administration office. or the People’s Committee of the district (if the land use certificate is issued by the People’s Committee of the district) to complete registration procedures, transfer the name of the land use right certificate land use.

Step 3: File your name

Declaring the dossier to the name of the red book shall be made at the People’s Committee of the district where the house or land is located. The composition of the dossier includes:

An application for registration of changes (to be signed by the seller), in case where there is agreement in the contract that the purchaser is carrying out administrative procedures, the purchaser may sign on his / her behalf.

Transfer contract; contract for; or written agreement on division of property; Written declaration of receipt of property.

Certificate of land use rights (red book), ownership of houses and assets attached to land (original).

Payments into the state budget (the original).

Copy of ID card + Household registration book of the transferee, inheritance, donation.

Time limit to name: According to the law.

Declaring the dossier to the name of the red book shall be made at the People’s Committee of the district where the house or land is located.

The fee for changing the name of the red book includes:

• Land fee: 15,000 dong / case.
• Appraisal fee: The charge rate is equal to 0.15% of the transfer value (at least 100,000 dong up to a maximum of VND5 million / case).
• The fee for red book issuance will be granted on a case-by-case basis.

Notarization fee when carrying out procedures to transfer land title: Pursuant to Joint Circular No. 08/2012 / TTLT-BTC- BTP of the Ministry of Justice – Ministry of Finance, the notarization fee is stipulated as follows:

• Below VND50 million (50,000 dong).
• From VND50 million to 100 million (100,000 dong).
• From over VND100 million to VND1 billion (0.1% of the value of assets or the value of contracts or transactions).
• From VND1 billion to VND3 billion (VND1 million + 0.06% of the value of assets or contract value or transactions in excess of VND1 billion).
• From VND3 billion to VND5 billion (VND2.2 million + 0.05% of the value of the asset or the value of the contract, the transaction exceeds VND3 billion).
• From over VND5 billion to VND10 billion (VND3.2 million + 0.04% of the value of the asset or the value of the contract, the transaction exceeded VND5 billion).
• Over VND 10 billion (VND 5.2 million + 0.03% of the value of assets or value of contracts, transactions exceed 10 billion VND (the maximum fee is not more than VND 10 million / case)

Accordingly, based on the value of the contract or the value of the property at the transaction, you can calculate the notary fee when carrying out the procedure to the name of the red book is how much.

Step 4: Pay the fee as prescribed and get the red book.

Once you have completed the 3 steps above, you will pay the full fee as prescribed and receive the red book. In addition, the process of buying and selling houses is not just a step in the procedure, to ensure the prevention and control of the risks, from the home inspection, the price, negotiation, deposit and sign the contract, home buyers can refer to the handbook home sales summarized in a single document:

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